Bitcoin remains on a potential trajectory towards $200,000 by year-end, undeterred by a massive market setback of $19 billion in liquidations. This was highlighted by Standard Chartered’s head of digital assets research, Geoff Kendrick.

Despite this optimistic outlook, the absence of inflows from U.S. spot Bitcoin ETFs is curbing Bitcoin’s upward possibilities. The cryptocurrency is currently forecasted to experience its worst October since 2013, a month usually known for its positive performance.

Bitcoin ETF inflows, weekly, all-time chart. Source: Sosovalue.com

$19 Billion Market Collapse Sparks Bitcoin Optimism

Though recent statistics show a record liquidation event contributing to a drop in Bitcoin’s price to $104,000, Kendrick suggests that investors may view this as an opportunity to buy. He remarked, “My official forecast predicts $200,000 by year-end,” attributing his confidence to eventual market stabilization.

Despite external pressures such as trade tensions and tariff discussions initiated by President Trump, Kendrick believes that a price increase to “well north of $150,000” is still feasible assuming the Fed cuts interest rates further.

Continued Developments in Crypto Trading

In other news, Hong Kong has granted approval for its first Solana ETF, demonstrating ongoing developments in the cryptocurrency ecosystem. The trading landscape remains competitive, with various platforms continuously evolving to meet investor demand.

Aave buyback program proposal summary. Source: Aave governance

This article encapsulates the pivotal changes within the cryptocurrency market and provides updates on various developments across trading platforms.